AudJpy is in a clear downtrend and, as said yesterday, rallies towards 75 should be well caped by bears.
The pair is trading for the 3rd time in 74 zone support and I expect a breakdown sooner rather than later.
My target for short is 72.50 and I will remain bearish as long as the pair stays under 75
AudJpy is trading in a very tight range for a few days now.
The trend is down and I believe the break will be to the downside and will assist a continuation under 74.
I'm bearish this pair as long as the price is under 75
For a few days now AudJpy is consolidating just above 74 zone support.
The combination of weak AudUsd and strong Jpy is not good for the pair and we can see a breakdown sooner rather than later.
I expect gains to be well caped on 75 zone and the pair could drop to at least 72 and even 70 in the medium term
Look to sell rallies under 75
AUD/JPY is selling because previously it was on the resistance trendline line zone . From a weekly timeframe we can see the overall price selling After the pullback . What do you see ? Comment down below.
Taking a look at the intraday price action on AUDJPY we have seen a potential Sell trading opportunity present itself.
As you can see from the 1 Hour chart, we have a liquidity gap drive lower on the 21st September 2020 around the 76.32 level marked with an orange arrow.
This level could have additional order flow resting here as the sellers who originally drove...
AUDJPY showing great potential for a 60 pip drop. We currently have a strong support level which has already rebounded off twice. The 0.50 fib level also fits the line of support very well which further makes me think that the price will once again reach this price. During this time a double top formation has also formed with a very strong neckline on the same...
AUDJPY Sell Swing Trade Setup.
Please manage your risk. Use Stop loss. And do not take blind entries.
If you have a question let me know. If you want to analyze any pair let me know.
This is just an idea. What we see.
The Market can go in the opposite direction, what we analyze. So we have to manage our risk and adopt the situation accordingly.
Hello my friends,
Another trade coming for everyone is AUDJPY pair.
I am also using Elliott Wave theory to trade this pair and it moves exactly like AUDUSD which i posted earlier.
So we will be using Wave-1 area as the stop loss to invalidate our sell setup.
If you find this post useful please drop a like to this post and my previous post as well.
👋 Hello and welcome traders to another trade idea with Fobian
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👉 WE have sell conformation:
- Triangle formation and the candle close out of triangle.
- MACD give us SELL signal.
- Candle close below ASIAN...
AUD - BEARISH
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